Which of the Following Definitions Describes an Aval of a Bill

question 16

Multiple Choice

Which of the following definitions describes an aval of a bill or a note?

• A) a person who has physical possession of a bill or note that is payable
• B) a person who signs a bill or note as a surety and comaker
• C) a person who endorses a bill or note as a guarantor of an endorsee
• D) a person who signs a bill or note to lend his or her credit to another party

---

Definitions:

Net Income

A company's earnings after deducting expenses and taxes from the total sales.

Overstatement

When the reported amount or value of an asset, expense, or income is higher than the real amount.

Periodic Inventory System

An inventory system in which ending inventory and cost of goods sold are determined at the end of the accounting period based on a physical inventory count.

Physical Inventory

Physical inventory refers to the process of counting and verifying the physical stock of goods a company holds in its possession.